Details of a 2024 Fed survey on the consumer health showed:
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In 2024, 73% of Americans said doing OK or comfortable financially, little changed from 2023
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Public viewed inflation and prices as the top financial concern in 2024
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Perceptions of local, national economies improved in 2024 but were still net negative
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In 2024, 29% said economy was good or excellent, down from 2019’s 50%
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In 2024, 60% said price changes made financial situation worse vs 65% in 2023
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In 2024, 79% said they changed behavior in response to higher prices
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In 2024, 63% said could cover $400 emergency with cash or equivalent, little changed from 2023
I don’t know why it is taking so long to release the survey. It is nearly June.
While, the 2024 Federal Reserve survey shows that most Americans feel financially stable, many remain concerned about inflation and rising prices. A majority reported changing their behavior in response to higher costs, and many said those price increases have negatively affected their finances. Inflation remains the top financial worry.
This article was written by Greg Michalowski at www.forexlive.com.
